Economist Mohamed El-Erian: Inflation Will Be 'Sticky' Around Double Target Rate, 'Parts of Manufacturing Are Already in Recession'

On Tuesday's broadcast of CNN's "The Lead," economist and President of Queens' College Dr. Mohamed El-Erian predicted that inflation will be "sticky" at around 4%, twice the 2% target rate the Federal Reserve has and stated that some parts of the U.S. manufacturing sector "are already in recession."